U.S. home ownership rate falls to 20-year low

The L.A. Times reports:

The national home ownership rate fell last quarter to the lowest level in two decades, the U.S. Census Bureau said Thursday.
lRelated Orange County housing market appears to be topping out


Despite the housing recovery of the last few years, the ownership rate has been on a steady decline since the housing boom last decade. In the fourth quarter of 2014, the rate fell to a seasonally adjusted level of 63.9%, from 64.3% in the previous quarter.

Last quarter's rate was the lowest since the third quarter of 1994.

A trend?